The total IT spend by Indian companies is estimated to reach $35 billion by 2011, with small & medium businesses (SMBs) accounting for $ 8-9 billion. Of the total estimated IT spend of $35 billion, the spend on IT services will be of the order of $8.1 billion by 2011, according to IT market research organisation Springboard Research.
Making a presentation before visiting journalists from India, Ravi Shekhar Pandey, Senior Analyst & Manager of Springboard Research, said the growth in the IT sector in India was the fastest among emerging markets, with top vendors in the key segment growing at between 25 percent and 60 percent in 2007. “Sectors such as the government, banking, telecom and retail offer unmatched scale and opportunities”, he said.
Pandey said research findings revealed that India was the fastest-growing market for SOL (Service Oriented Architecture) with a compounded annual growth rate of 43 percent. The growth in new server purchases by SMBs has been pegged at 25-30 percent even as the software developer population base is estimated to go up to two million by 2010.
According to Springboard Research, the growth was being driven by the business transformation needs of large enterprises and SMBs’ current business needs and their endeavour to achieve the next level of growth.
Technology trends that were shaping Indian IT include high power computing, virtualisation, SOA, managed services and Web 2.0. Interoperability between systems was the in-thing even as open source was a trend that has been gaining ground fast, thanks largely to significant support from the government sector. Partnerships were being forged in increasing numbers with focus on innovation in collaborative mode, Pandey said.
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